Doing the same thing may allow you to stay in business, but it is the big idea that will separate you from your competitors and allow you to maximize your sales, profits and value of your company. So what are some things that can be converted into the next big idea?
We can go back a few decades to find seminal ideas that helped boost the staffing sector. The big ideas: that corporate clients could better afford paying hiring fees instead of job seekers, that companies would be willing to pay for the outplacement of executives who they terminated, using temp for interim assignments who could also do the job less expensively and MSP/VMS for economies of scale, just to name a few.
So what will be the next big idea? We can look around for current changes taking place in the economy, life style changes or other situations ripe to create a staffing opportunity.
We now have both the new healthcare laws starting to go into effect this year and next and the elimination of the payroll tax holiday. For smaller clients the difficulty of having to deal with theses changes can become our opportunity if payroll their employer and become the employer of record, relieving them of this burden and do so less expensively as well. Those doing pay rolling are already primed for this, but those who are not need to get up to speed to provide the same service. This will entail develop an infrastructure to handle pay rolling, documenting the savings they can provide, package this service and then aggressively market this service.
As a result of the current political climate, there is now a major divide between the right and left on many social issues that we can take advantage of; as the AMAC formed a socially conservative senior organization as an alternative to more liberal AARP. Staffing company can rebrand themselves based on local social values (i.e. American Values Staffing or Rainbow Coalition Personnel), or just create a promotional tag line to their services.
There are possibilities for big ideas we can create out of who cloth. Automation has been a driving factor in a tepid job recovery while corporate profits and stock prices have risen markedly. The impact of which has eliminated millions of jobs while making the US more competitive. This pace will only accelerate and those who ignore this trend do so at their peril. The government is keenly aware of this situation which is showing up in anti-immigration polices, tensions over the second amendment and general social unrest. We can help in this transition. Larger staffing company’s big idea can come up with alternative solutions for a smooth transition (perhaps even funded by Federal and State monies). Smaller companies can work at the local level to retrain workers, get into career transition counseling, reposition themselves into the right niches, etc……… We will explore other “big ideas” over time.
Optimal Management is the premier management consulting company to the staffing industry. We act as mentors to owners and managers to maximize their sales, profits and value of their company. We become an extension of our clients operations and are there for all of their staffing and business needs, from sales, marketing and compensation plans, to finance, M&A, general management and everything in between.